Which One of the Following Accounts Would Not Necessarily Be

question 234

Multiple Choice

Which one of the following accounts would not necessarily be classified as a current liability?

• A)Accounts payable
• B)Accrued liabilities
• C)Contingent liabilities
• D)Current portion of long-term debt

---

Definitions:

Motor Oil

A lubricant used in internal combustion engines to reduce wear on moving parts, clean, and cool the engine.

Gasoline

A volatile fuel used primarily in internal combustion engines.

Revealed Preference

A theory in economics that assumes the preferences of consumers can be revealed by their purchasing habits.

Prices

The amounts of money expected, required, or given in payment for goods or services.